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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Operating Activities        
Net Income $ 63 $ 99 $ 201 $ 187
Adjustments to reconcile net income to cash (used) provided by operating activities —        
Depreciation and amortization of other intangibles 65 58 183 165
Deferred income taxes (13) (1) (22) (1)
Stock-based compensation 5 1 12 12
Loss on sale of assets 3 1 8 2
Changes in components of working capital —        
(Increase) decrease in receivables (29) 13 (268) (212)
Increase in inventories (65) (56) (118) (116)
Increase in prepayments and other current assets (21) (8) (91) (76)
(Decrease) increase in accounts payable (26) (29) 141 57
(Decrease) increase in accrued taxes (3) 16 (6) (22)
Decrease in accrued interest (3) (3) (3) (5)
(Decrease) increase in other current liabilities (19) (51) 11 101
Changes in long-term assets (4) (10) (18) (10)
Changes in long-term liabilities 1 (6) 2 1
Other 5 1 5 3
Net cash (used) provided by operating activities (41) 25 37 86
Investing Activities        
Proceeds from sale of assets 1 0 6 6
Proceeds from sale of equity interest 0 0 0 9
Cash payments for plant, property, and equipment (78) (90) (242) (283)
Cash payments for software related intangible assets (3) (5) (13) (17)
Proceeds from deferred purchase price of factored receivables 36 28 102 77
Other (4) (1) (2) (5)
Net cash used by investing activities (48) (68) (149) (213)
Financing Activities        
(Repurchase) issuance of common shares (1) 1 (2) (2)
Cash dividends (14) (14) (39) (40)
Payments of long-term debt (5) (1) (17) (9)
Issuance of long-term debt 0 0 0 136
Debt issuance cost of long-term debt 0 0 (2) (8)
Purchase of common stock under the share repurchase program 0 (71) 0 (131)
Net increase (decrease) in bank overdrafts 2 (3) (5) (12)
Net (decrease) increase in revolver borrowings and short-term debt excluding current maturities of long-term debt and short-term borrowings secured by accounts receivable (77) 84 (29) 144
Net increase in short-term borrowings secured by accounts receivable 170 0 150 20
Distributions to noncontrolling interest partners (16) (12) (44) (45)
Net cash provided (used) by financing activities 59 (16) 12 53
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (4) 3 (15) 4
Decrease in cash, cash equivalents and restricted cash (34) (56) (115) (70)
Cash, cash equivalents and restricted cash, beginning of period 237 335 318 349
Cash, cash equivalents and restricted cash, end of period (Note) 203 279 203 279
Supplemental Cash Flow Information        
Cash paid during the period for interest (net of interest capitalized) 25 23 65 61
Cash paid during the period for income taxes (net of refunds) 23 31 79 74
Non-cash Investing and Financing Activities        
Period end balance of accounts payable for plant, property, and equipment 52 53 52 53
Deferred purchase price of receivables factored in the period $ 34 $ 27 $ 105 $ 80